Key Points
- Flex CAO Daniel Wendler sold 10,000 shares on Dec. 11 at an average price of $71.97 for proceeds of $719,700, leaving him with 27,619 shares — a 26.58% reduction in his position.
- FLEX opened at $68.80 (near its 52-week high of $72.22) and was down about 3.1% on the day; the company has a $25.44B market cap, heavy institutional ownership (94.3%), and an analyst consensus of a "Moderate Buy" with an average target of $65.88.
Flex Ltd. (NASDAQ:FLEX - Get Free Report) CAO Daniel Wendler sold 10,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $71.97, for a total transaction of $719,700.00. Following the sale, the chief accounting officer directly owned 27,619 shares in the company, valued at $1,987,739.43. This represents a 26.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Flex Trading Down 3.1%
Shares of FLEX stock opened at $68.80 on Friday. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $72.22. The company has a 50 day moving average price of $61.55 and a 200 day moving average price of $54.70. The stock has a market capitalization of $25.44 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.
Hedge Funds Weigh In On Flex
A number of large investors have recently bought and sold shares of FLEX. Fulton Bank N.A. raised its position in Flex by 0.3% during the third quarter. Fulton Bank N.A. now owns 49,904 shares of the technology company's stock valued at $2,893,000 after buying an additional 167 shares during the period. Diversified Trust Co grew its stake in Flex by 2.4% during the 3rd quarter. Diversified Trust Co now owns 7,697 shares of the technology company's stock valued at $446,000 after acquiring an additional 179 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Flex by 5.3% in the 3rd quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company's stock valued at $208,000 after purchasing an additional 181 shares during the period. US Bancorp DE boosted its holdings in shares of Flex by 1.2% during the third quarter. US Bancorp DE now owns 19,729 shares of the technology company's stock worth $1,144,000 after purchasing an additional 225 shares during the period. Finally, Modera Wealth Management LLC boosted its holdings in shares of Flex by 3.4% during the third quarter. Modera Wealth Management LLC now owns 7,011 shares of the technology company's stock worth $406,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 94.30% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on FLEX. Argus set a $85.00 target price on Flex in a research report on Friday, October 31st. Bank of America boosted their price objective on Flex from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Weiss Ratings restated a "buy (b)" rating on shares of Flex in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of Flex from $60.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Flex has an average rating of "Moderate Buy" and an average target price of $65.88.
Check Out Our Latest Stock Report on Flex
About Flex
(
Get Free Report)
Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.
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